• Transactions & Dealings >> Other Transactions

    Question ID: 5948Country: India

    Title: I am working last five years in Kuwait but unable to purchase My Home, I am stay at rented home.,There is any way to purchase on Bank or Any other Halal Way.

    Question: I am working last five years in Kuwait but unable to purchase My Home, I am stay at rented home.,There is any way to purchase on Bank or Any other Halal Way.

    Answer ID: 5948Posted on: Aug 28, 2020

    Bismillah hir-Rahman nir-Rahim !

    (Fatwa: 458/458=M/1429)

     

    First of all, a halal way for buying house is that you should borrow interest free money from one or several persons and buy the house. And gradually keep on paying the debt according to your capacity. If it is difficult, as no one is ready to give you interest free loan then you may buy the house through the bank in a way that you choose the house you intend to buy and ask the bank to buy it. Having bought the house, the bank may include the extra amount in the original price of house as per their wish, i.e. what might have been interest, the bank may include the same extra amount (interest) in the original value of the house. Now you can purchase the house on total price and you can keep on paying it in instalments. In this way, you will be safe from taking loan and paying interest.

    Allah (Subhana Wa Ta'ala) knows Best

    Darul Ifta,

    Darul Uloom Deoband, India